How To Use Your Fixed Asset Register

How To Use Your Fixed Asset Register

Your fixed asset register will have many helpful uses. You’ll be able to use your fixed asset register to improve the amount of control you have over your assets, saving you time and money.

All of your fixed assets will be logged onto your fixed asset register. Each asset will have a unique digital profile where you’ll be able to add data, such as maintenance dates, against the asset itself. This data will then be reflected on your fixed asset register automatically.

Overall, you get more control and visibility, as you’ll be able to reduce the risk of ghost and zombie assets and verify which assets you own and which ones you need to purchase.

 

Track Maintenance And Routine Operations

First of all, you’ll be able to use your fixed asset register to streamline existing maintenance operations. As you’ll be able to run and customise reports, you’ll be able to view which assets have had maintenance recently and which assets need it.

This way, you’ll be able to reduce asset downtime with ease. Simply use reminders or report issues on your assets and this will be reflected in your reporting.

issues management software

Then, your maintenance team will be able to see which assets have issues and where they are, ready to streamline a fix or improve pre-emptive maintenance procedures.

 

Export Your Fixed Asset Register For Insurance And Accounting Purposes

You can also export your fixed asset register for insurance and accounting purposes. If you make use of auditing features, too, you’ll be able to keep an up to date record of where your assets are and prove that they’re accounted for.

audit your assets with itemit

As you can now prove ownership and responsible use with ease, your fixed asset register will be viable for insurance companies to use to quote you and, if something goes wrong, as evidence.

In the same vein, you can also use your fixed asset register for accounting and tax operations, proving ownership of assets and their value. This means that you get accurate tax breaks and don’t miss out on anything by over or under-reporting your asset-related finances.

Improve Your Asset Management Operations

Finally, as your fixed asset register will reflect all of the changes your assets have been through, you’ll be able to use your fixed asset register to monitor your assets’ lifecycles.

This gives you a clear view of where assets have been and who has been interacting with them, immediately showing any gaps. For example, it will be visible if an asset has been used by multiple people and, therefore, if you need to purchase another of that fixed asset. Conversely, you’ll see the assets that are under-utilised and be able to rectify this.

Overall, an automated fixed asset register shows you all of the information you need to make better business-focused decisions and, therefore, save time and money as you go.

To find out more about how itemit’s fixed asset register software can help your business, you’ll be able to book a demo using the button below.

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial!

 

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Try Our Fixed Asset Register Software Today

No strings attached! You choose whether to continue using itemit after your 14-day trial.

or, download the itemit app to get started

The Best Fixed Asset Tracking Software Features

The Best Fixed Asset Tracking Software Features

Fixed asset tracking software will help you save time and money on your operations. With fixed asset tracking software, you’ll get a clear view of what you own and how your assets are behaving.

Overall, you get:

  • More accountability
  • More visibility
  • More control
  • More accuracy

Then, you will also save money by losing fewer assets and by having a more accurate and up to date fixed asset register.

So, what are the best features you get when you use fixed asset tracking software?

 

Automated Fixed Asset Register

One of the best features of fixed asset tracking software is an automated fixed asset register which updates in real-time. This means that every time you log a change against an asset, this is reflected in your fixed asset register, ready for use.

All of your assets will exist on your fixed asset register as unique items, so you’ll be able to monitor and log any changes against specific assets, giving you a much clearer view of how assets are behaving.

In turn, this reduces the chance of ghost and zombie assets, meaning your insurance and accounting operations remain accurate and that you get necessary tax breaks.

You can also use your fixed asset register to monitor asset maintenance and ownership, assigning assets to colleagues and logging any changes an asset may undergo during its lifecycle.

 

Fixed Asset Tagging

Fixed asset tagging allows you to link your digital asset profiles to their physical counterparts. This means you get a much clearer view of the granular changes an asset undergoes.

You’ll stick asset tags, likely QR codes, to your assets. Then, you’ll link these tags to digital asset profiles by scanning them with your asset tracking app.

Tagging and Tracking with QR Code Asset Tags

This way any time you need to update asset information the process is simple. All you need to do is scan an asset’s tag with your asset tracking software and log the data.

In practice what this means is that if you notice an asset has an issue, all you need to do is scan the corresponding tag and report the issue with the touch of a button.

Monitor and Track Asset Changes

Overall, this level of control gives you a fully transparent view of where assets are and how they’re behaving. As every scan updates an asset’s last seen location, you can now have a full audit trail of where assets have been.

As well as this, once your fixed asset register is in your fixed asset tracking software, you’ll be able to make use of many more helpful features.

Asset bookings and check in check out tracking is also simple thanks to the use of effective and streamlined features, for example. Then, you’ll also be able to manage maintenance with reminders and an issues management system.

To find out more about how itemit’s fixed asset tracking software can help your business save time and money, you’ll be able to book a demo using the button below.

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial.

 

Why not check out these blogs?

Why You Need A School Asset Management System

The Benefits Of RFID Asset Tracking

How Using A Tool Tracker Saves You Time And Money

Start Using Our Fixed Asset Tracking Software!

No strings attached! You choose whether to continue using itemit after your 14-day trial.

or, download the itemit app to get started

What Is A Fixed Asset Management System?

What Is A Fixed Asset Management System?

A fixed asset management system will help you keep track of what you own better. You’ll be able to use an effective, customisable, and affordable solution to ensure that you lose fewer tools and can audit more effectively.

A fixed asset management system allows you to log all of your assets onto a single fixed asset register. You’ll then be able to filter and customise this to view data in a more granular way.

As you’ll be tracking unique fixed assets, all of the data you collect will be visible in bulk, so that you can view trends, or against an individual asset, so that you can view specific information.

 

The Benefits Of A Fixed Asset Management System

The primary benefit is that you’ll be tracking unique fixed assets in unique profiles. This way all of your data asset tracking comes back to the physical assets and no data is lost between auditing and logging information.

As you’ll be able to use asset tags, too, your fixed asset register will relate specifically to your assets. In other words, if you see a damaged asset you’ll be able to scan the asset’s tag to log that damage on your system.

Tagging and Tracking with QR Code Asset Tags

This way, all of the information you need to see against specific assets is visible, manageable, and customisable. When you collect data, it contributes to your fixed asset register, too, creating something more transparent and automated.

 

The Best Fixed Asset Tracking Features

The idea of fixed asset tracking is to keep costs down and keep assets running as effectively as possible. Therefore, many fixed asset tracking features have been implemented for this very reason.

For example, you’ll be able to run asset audits to verify that all of your assets are exactly where you should be and to find any missing assets with much greater ease.

audit your assets with itemit

You’ll also be able to track asset maintenance effectively and schedule it using your fixed asset management system, meaning there is a clear view over asset condition.

Finally, as your fixed asset tracking system will work on a cloud-based basis and in real-time, any changes you make will be reflected on your fixed asset register instantly.

Using Your Fixed Asset Register

Your fixed asset register will be usable for many different insurance and financial purposes. After you’ve logged your assets onto your fixed asset management system and have started tracking them, any changes that happen afterwards will be automatic.

Therefore, you’ll be able to use an accurate fixed asset register, free of ghost and zombie assets, to prove ownership and responsible use of your assets when filing expenses or insuring your business.

You’ll also be able to use custom filters to see specific asset-related information, such as which assets have missed a maintenance date or which assets have been checked out and to whom.

To find out more about the benefits of itemit’s fixed asset management system, you’ll be able to book a demo using the button below.

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial.

 

Why not check out these blogs:

How To Tag Fixed Assets

What Is The History Of Asset Management?

Why You Need An IT Inventory Management System

Start Your Free Trial Of Our Fixed Asset Management System!

No strings attached! You choose whether to continue using itemit after your 14-day trial.

or, download the itemit app to get started

How To Tag Fixed Assets

How To Tag Fixed Assets

Fixed asset tracking is a set of operations put in place to help you keep better track of what your business owns. Without tracking your fixed assets, you’re at a greater risk of losing things or items becoming unaccounted for.

With fixed asset tracking software, you’ll be able to log your assets with unique digital profiles. Then, you’ll be able to implement fixed asset tagging procedures using asset tags. This will link your software to your physical assets.

 

What Are Asset Tags?

Asset tags are physical tags that contain some information. This information can be a URL or a number, but it will always be unique. This is so that your fixed asset tracking software can link to your physical assets via the tag’s unique information.

Asset tags can come in many different shapes and sizes, from QR codes to barcodes to RFID tags. Then, you’ll be able to customise these further. For example, if any assets on your fixed asset register go through a lot of weathering and wear and tear, you’ll be able to use metal QR code asset tags.

In practice, when you’ve linked your asset tags to your fixed asset management software, you’ll be able to speed up your asset tracking by scanning the tag.

Tagging and Tracking with QR Code Asset Tags

Every scan of an asset’s tag will:

  • Open the asset’s profile
  • Update the asset’s last seen location
  • Update the user who scanned the tag last

 

The Benefits Of Using Asset Tags

Asset tags give you a way to speed up your asset auditing and tracking operations. They can offer you varying levels of automation, too, with RFID tags giving you the highest level and barcodes the lowest.

Automation means that you save time that you can use elsewhere, not only saving money but making it at the same time. Also, with helpful integrated features in your asset management system that are asset tag-based, you can speed up a lot of existing operations.

For example, if a large number of assets are moving from one location to another, you’ll be able to use tag-based features such as “Quick Add” to mark the change at speed and with ease.

quick add with asset tracking and management

How To Tag Your Fixed Assets

To benefit from these great features and automation, you’ll need to set up a set of procedures to ensure that your fixed assets are tagged consistently and accurately.

The best system in practice is to audit as you go tag. This way, when you’re setting up your fixed asset tracking software for the first time, you can ensure that you don’t start off with any ghost or zombie assets on your fixed asset register.

So, when you have an asset physically in front of you, you’ll be able to log this asset on your system and tag it instantly to verify that it exists. If you do this while you’re also using your existing fixed asset register, you’ll be auditing twice at once.

Therefore, being able to check off assets on your old fixed asset register or list of inventory while you’re adding assets to your new system and tagging them is the best way to ensure all of your assets are logged and accurate.

To find out more about itemit’s fixed asset tracking system, you’ll be able to book a demo using the button below:

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial.

 

Why not check out these blogs:

What Is The History Of Asset Management?

Why You Need An IT Inventory Management System

The Benefits Of Equipment Tracking

Start Using Our Fixed Asset Management System!

No strings attached! You choose whether to continue using itemit after your 14-day trial.

or, download the itemit app to get started

Practical Uses For Your Fixed Asset Register

Practical Uses For Your Fixed Asset Register

Your fixed asset register can be used for many different things. An accurate, up to date and automated fixed asset register can save you a lot of time and money

Knowing all of the assets your business owns, as well as data related to them, is essential in keeping up to date with finances, insurance information, and maintenance dates.

You’ll be able to use your fixed asset register to keep an eye on all of this and more!

 

Clearer Fixed Asset Management

When you use fixed asset management software, your fixed asset register will update automatically with every interaction.

So, by using fixed asset tagging you’ll be able to log all of your interactions with assets automatically and in real-time. For example, if you notice an asset has an issue, you’ll be able to scan the asset’s tag and report the fault.

issues management software

All of these changes will update on your asset register when you make them, giving you a clear and transparent view of all the information you need to know.

In this case, you’ll be able to reduce asset downtime by keeping on top of your maintenance in a simple and streamlined way.

Overall, you can use your asset register to keep an eye on the condition of your assets and track their locations, allowing you to trace any issues to a specific interaction and rectify any faults with much greater ease.

 

Better Asset Audits

As you can have all the data you need logged against assets, you can audit with your asset tracking system with much greater ease. 

If you need to see where assets were last seen, who your fixed assets have been assigned to, or track depreciation information, you’ll be able to filter, manage, and export your fixed asset register.

An automated fixed asset register ensures that there aren’t any gaps, meaning that your audits are accurate and reliable. Therefore, you can use your fixed asset register for your financial and insurance-related operations.

As asset audits are more accurate with fixed asset tracking software, there’s a much smaller chance that any ghost assets or zombie assets will exist on your fixed asset register, ensuring you get accurate tax breaks after submitting your business’ asset-related expenses.

 

Speed Up Existing Operations

All of this means that you can use your fixed asset register to improve and speed up your existing operations. 

The best use of your fixed asset register, therefore, is to save time and money by implementing effective, streamlined, and automated processes.

Fixed asset register software is built to supersede spreadsheets, too, meaning that you don’t need much manual input to keep your asset register accurate, up to date, and usable for any of the above purposes

When you save time, you save money, too. With a cloud-based fixed asset management system, you can save more time by allowing your colleagues to audit and update asset information. You can even add permissions and restrictions on what they can and can’t see or do.

To find out more about how itemit’s fixed asset management system can help you, you’ll be able to book a demo using the button below.

You can also contact the team at team@itemit.com or fill in the form to start your 14-day free trial.

 

Why not check out these blogs:

How To Tag Your Assets

The Benefits Of Using Cloud-Based Fixed Asset Management Software

How Using A Computer Asset Management System Saves You Money

Try Our Fixed Asset Register Software Today

No strings attached! You choose whether to continue using itemit after your 14-day trial.

or, download the itemit app to get started

The Benefits Of Using Cloud-Based Fixed Asset Management Software

The Benefits Of Using Cloud-Based Fixed Asset Management Software

Cloud-based fixed asset management software automates many of your existing operations, allowing you to have more time to concentrate on your business-critical work and procedures.

With cloud-based fixed asset management software, you’ll be able to:

  • View a fixed asset register of what you own
  • Maintain your fixed assets
  • Monitor how your assets are being used and where they are
  • Make better business-based decisions from your fixed asset data

So, while you save time with your fixed asset tracking, you also save money by reducing asset downtime and by speeding up your workflow.

 

What Is A Cloud-Based Fixed Asset Management Software?

Cloud-based fixed asset management software uses the benefits and the functionality of the cloud to allow edits to asset data to update for everyone across the board in real-time.

In other words, if one of your colleagues is running an asset audit, the updates to asset information they log will also update for you in a totally separate location.

Therefore, if your business has many sites, a cloud-based system saves you money as you don’t need to invest in travel costs. Colleagues onsite can update asset information while you view and export the data for another team, such as your accounting or insurance team.

 

fixed asset management work

 

How Does Fixed Asset Management Software Work?

Fixed asset management software works by letting you log individual asset profiles. These profiles are unique and mirror unique assets. Therefore, if you’re using a fixed asset management system for IT asset management, each laptop, phone, and PC will get its own profile.

Then, you’ll be able to tag your physical assets with asset tags. This way you’ll be able to speed up edits to asset data and maintain your fixed asset register in a better, more transparent way.

Every time you scan an asset’s tag, the last seen location will update as well as the user who scanned the tag, and the asset’s profile will open, ready for editing.

Tagging and Tracking with QR Code Asset Tags

This operation is highly scalable to any asset. So, you’ll be able to track construction equipment while you’re also tracking your IT assets, high-value collections, and more!

The Benefits Of A Cloud-Based Fixed Asset Management Software

Overall, you get clear benefits from the speed and control you gain over your fixed asset register. As edits are quick and largely automated, it’s a much simpler process to audit or update asset information.

Therefore, if you’re logging an issue with an asset, your maintenance team can discover where the asset is, what the issue is, and which asset has an issue moments after you report the fault. This example reduces asset downtime.

As you’re interacting with physical assets when you’re updating your fixed asset register, your information will be more accurate, too. This is superior to using a spreadsheet, as spreadsheets can become unwieldy and out of date incredibly quickly.

To find out more about the benefits of itemit’s cloud-based fixed asset management software, you’ll be able to book a demo using the button below.

You can also contact the team at team@itemit.com or fill in the form below to start your 14-day free trial of the software.

 

Why not check out these blogs:

How Using A Computer Asset Management System Saves You Money

What Is GPS Asset Tracking?

Why Is IT Inventory Management Important?

Start Using Our Cloud-Based Fixed Asset Management Software

No strings attached! You choose whether to continue using itemit after your 14-day trial.

or, download the itemit app to get started

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